The global antimicrobial additives market is valued at around US$ 12,711.5 Mn in 2022 exhibiting an impressive CAGR of 8.2% during the forecast period 2022 to 2032. The market is predicted to reach a valuation of US$ 27,955.6 Mn by 2032.
The global demand for antimicrobial additives is expected to grow at a robust CAGR of 8.2% between 2022 and 2032, as compared to the historical period between 2013 and 2021 during which the CAGR was about 7.7%.
The market is projected to showcase a higher growth rate across the estimation period due to the rising concern among consumers related to personal and family wellness. Furthermore, the presence of strict regulations encouraged the use of antimicrobial products and devices in order to decrease health hazards.
Key Companies Profiled:
- Akzonobel N.V.
- BASF SE
- The Dow Chemical Company
- Sanitized AG
- Steri touch Ltd
- Biocote Ltd.
- Life Material Technologies Limited
- Momentive Performance Materials Inc.
- Clariant Chemicals India Ltd.
- Nanobiomatters
Competitive Landscape
Prominent market players are focusing on working with new formulations of antimicrobial products and simultaneously developing more sustainable solutions. Key market participants have shifted their preference towards edible and biobased antimicrobial additives owing to the regulatory pressure for safer additives. In addition to that, other companies are also being acquired in order to generate more revenue and acquire a competitive advantage over the market.
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Antimicrobial additive Market Segmentation
By Application:
- Fabric / Textile
- Inks
- Paints and Coatings
- Paper
- Plastic
- Silicone Rubber
- Others
By End Use:
- Automotive
- Building and Construction
- Electronics
- Food and Beverages
- Healthcare
- Other
More Insights into the Antimicrobial Additives Market
The United States antimicrobial additives market is projected to expand at a phenomenal pace throughout the forecast period attributed to the rising consumption of antimicrobial ingredients in an array of end-use industries including food and beverages, automobile, electronics, and others.
Over the past few years, changing lifestyles have made people forced to choose packaged food which has resulted in the surge in demand for food additives that increase the shelf life of products. Most food manufacturers in the U.S. use antimicrobial additives in their products in order to prevent the growth of microbes.
Attributing to the surging consumption of antimicrobial additives across the food and beverages, healthcare, construction, and automotive industries, the U.S. is set to possess 16.9% of the overall volume of consumption in 2022.
Due to the rapid growth of the automotive industry in India, the antimicrobial additives market is anticipated to expand at a steady pace across the projection period from 2022 to 2032.
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